Question

After putting $5,500 as a down payment on a car, you pay $400 per month for 60 months to pay off your car. What was the total you have spent for the car?

Answer 1

$29500

Explanation:

Given data

The number of months is 60

the downpayment is $5,500

the monthly payment is $400

Let the function for the total payment be given as

y=mx+c

y= 400(60)+5500

y=24000+5500

y= 29500

Hence the total paid for the car is $29500